Westpac Bank – Not Just Weak But Hypocrites

Posted on Sun 04/30/2017 by


By Andrew Bolt ~

Here in Australia, Westpac Bank, freaked by green activists, says it won’t invest in mines in new coal regions to save the world from global warming.

But what hypocrites:

WESTPAC Bank … a worse greenhouse gas polluter than some of Australia’s biggest manufacturers.

The bank released its latest climate change action plan on Friday, ruling out finance for mines in new coal regions such as the giant Carmichael project planned by Adani for central Queensland’s Galilee Basin…

Official figures reported to the federal Clean Energy Regulator show carbon dioxide emissions related to the bank’s operations totalled 148,723 tonnes in 2015-16, equivalent to 29,000 cars.

Most of it is indirect pollution from energy used to run massive data centres. That is the highest level of any of the country’s big four banks – 45 per cent more than the Commonwealth.

But it also overshadows manufacturing companies such as Arnott’s Biscuits, brewer Foster’s, frozen food producer McCain, dairy giant Parmalat Australia and even carmaker General Motors.

Westpac was responsible for more emissions than fast food chain McDonald’s and infrastructure operations including Gladstone Ports and the Dalrymple Bay Coal Terminal near Mackay.

Westpac has just proved that motly activists prepared to crash its parties can have a massive effect. It has now set itself up for further blackmail. What next? No investment in gas? Cancelling the back accounts of people who work in uranium mining? Banning finance for fatty foods?

Westpac has just declared it will not invest in money making things if activists claim (faslely) they are a sin. Is our future safe when a bank bans investment in projects that create jobs and revenue? Is the bank itself a good investment when it puts scare campaigns above reason?

Resources Minister Matt Canavan tries some pressure of his own:

Senator Canavan has called for a customer boycott of the bank.

“Apparently, everyone else should cut emissions but them,” he said.

Andrew Bolt writes for the Herald Sun, Daily Telegraph, and The Advertiser and runs Australia’s most-read political blog. On week nights he hosts The Bolt Report on Sky News at 7pm and his Macquarie Radio show at 8pm with Steve Price.

Read more excellent articles from Andrew Bolt’s Blog . http://blogs.news.com.au/heraldsun/andrewbolt/